Apple, Stimulus, Mallinckrodt, Lakers: 5 Things You Must Know

Here are five things you must know for Monday, Oct. 12:

1. — Stock Futures Edge Higher Amid Stimulus Uncertainty

Stock futures edged higher Monday amid uncertainty over the prospects for further fiscal stimulus and as investors prepared for quarterly earnings reports from the biggest banks in the United States.

Contracts linked to the Dow Jones Industrial Average rose 59 points, S&P 500 futures were up 23 points and Nasdaq futures rose 199 points.

Stocks closed higher Friday after the White House raised its coronavirus aid proposal to $1.8 trillion, up from $1.6 trillion. The offer, however, still remains below the latest proposal of $2.2 trillion from Nancy Pelosi and House Democrats.

Pelosi rejected the latest Trump proposal as “one step forward, two steps back,” but said she was still hopeful progress can be made toward a relief package.

“I remain hopeful that (Friday’s) developments will move us closer to

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Global shares rise with US stimulus, virus cases in focus

TOKYO (AP) — Global shares mostly rose on Monday as investors weighed the prospects of more U.S. economic stimulus and rising coronavirus cases across the world.

U.S. shares were set for a steady outset to the week, with Dow futures rising 0.1% and S&P 500 futures up nearly 0.6%.

France’s CAC 40 rose 0.8% to 4,985, while Germany’s DAX rose 0.6% at 13,126. Britain’s FTSE 100 added 0.1% to 6,024 after European Union officials say they finally are seeing progress in trade talks with the United Kingdom.

Chinese shares led advances in Asia. Hong Kong’s Hang Seng jumped 2.2% to 24,649.68, while the Shanghai Composite added 2.6% to 3,358.46.

But elsewhere, investors growing wary over upcoming earnings reports have been cashing in recent gains, helping pull Japanese shares lower. Tokyo’s benchmark Nikkei 225 index lost 0.3% to finish at 23,558.69. Big exporters logged some of the largest losses, with Toyota

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Dow Futures Gain;Markets Await Q3 Earnings, Stimulus Clarity

The Monday Market Minute

  • Global stocks rally as China markets roar, investors extend stimulus bets heading into the U.S. earnings season.
  • Around 31 companies will report this week, including the country’s biggest banks, with analysts expecting third quarter profits to fall 21% from last year.
  • Apple unveils is new line-up of 5G phones on Tuesday, the same day that Amazon will launch its annual ‘Prime Day’ shopping event.
  • President Trump renews call for stimulus deal, but confusion grips talks as both sides play politics 22 days ahead of the November elections.
  • Europe records 100,000 daily coronavirus cases, the highest tally since the pandemic began, in what is likely to be an omen for a second U.S. wave as domestic weather cools.
  • U.S. equity futures suggest a firmer open on Wall Street, following its best five-day stretch since August, ahead of big bank earnings and key consumer sentiment events in the
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Global stocks rise as hopes for prompt US fiscal stimulus revive the ‘buy everything’ trade

a man in a suit standing in front of a crowd: Thomson Reuters

© Thomson Reuters
Thomson Reuters

  • Global stocks rose on Monday as investors held onto hopes for a prompt deal on a new round of US fiscal stimulus, boosted by the White House’s change in position over the weekend.
  • US stock futures rose as much as 1%, even after House Speaker Nancy Pelosi rejected the Trump administration’s latest proposal on Sunday.
  • In Asia, China stocks rose to a two-year peak, driven by a new central bank policy that makes it easier to sell the yuan.
  • The FTSE 100 edged slightly lower ahead of Prime Minister Boris Johnson’s expected announcements on stricter COVID-19 restrictions across the country.
  • Visit Business Insider’s homepage for more stories.

Global stocks rose on Monday as investors largely pinned hopes on a new US fiscal stimulus deal to get across the line. 


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US stock futures rose as much as 1% even after House Speaker Nancy Pelosi

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India announces economic stimulus to boost demand by $10 billion

By Aftab Ahmed and Manoj Kumar

NEW DELHI (Reuters) – India on Monday announced steps to stimulate consumer demand, including advance payment of a part of the wages of federal government employees during the festival season and more capital spending as it tries to bolster the pandemic-hit economy.

The government will allow its employees to spend tax-exempt travel allowances on goods and services, Nirmala Sitharaman, India’s finance minister told a news briefing.

She said the government will also shore up investment by spending extra 250 billion rupees ($3.41 billion)on roads, ports and defence projects, and offering 120 billion rupees in interest-free 50-year loans to state governments for spending on infrastructure before March 31,2021.

“All these measures are likely to create an additional demand of 730 billion rupees ($9.96 billion),” Sitharaman said, adding the proposals would stimulate demand in a “fiscally prudent way.”

Prime Minister Narendra Modi’s government, which imposed a

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PRECIOUS-Gold eases as dollar strength, delay in U.S. stimulus weigh

Oct 12 (Reuters) – Gold prices edged lower on Monday, after
hitting a three-week high earlier in the session, as the dollar
firmed and talks over a new U.S. stimulus package ran into


* Spot gold fell 0.2% to $1,925.29 per ounce by 0046
GMT, after hitting its highest level since Sept. 21 at $1,932.96
earlier in the session.

* U.S. gold futures were up 0.3% at $1,932.70.

* The dollar index was up 0.1% against rivals, making
gold more expensive for holders of other currencies. [USD/]

* The Trump administration on Sunday called on Congress to
pass a stripped-down coronavirus relief bill using leftover
funds from an expired small business loan program as
negotiations on a broader package ran into resistance.

* U.S. President Donald Trump said on Sunday he had fully
recovered from COVID-19 and was not an infection risk for

* Britain will explore

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Dollar Ticks up on Stalled Stimulus Talk; Yuan Falls After PBOC Move | Investing News

TOKYO (Reuters) – The dollar inched up in early Monday trade as riskier currencies slipped after negotiation on a U.S. stimulus package ran into resistance and as the yuan dropped after China’s central bank took a measure seen as aimed at curbing its strength.

The euro slipped 0.15% to $1.1818

while the Australian dollar shed 0.25% to $0.7223


The yen was little changed at 105.65 to the dollar


The U.S. dollar index edged up to 93.104 <=USD>, bouncing back from Friday’s near-three-week low of 92.997. The index saw its biggest loss in six weeks on Friday on hopes that a deal for new U.S. stimulus would be reached.

President Donald Trump on Friday offered a $1.8 trillion coronavirus relief package in talks with House Speaker Nancy Pelosi – moving closer to Pelosi’s $2.2 trillion proposal.

But Trump’s offer drew criticism from several Senate Republicans, many

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BOJ’s Swelling Asset Pile Complicates Future Exit From Stimulus

Outside the Bank of Japan (BOJ) headquarters in Tokyo on Sept. 14.

Photographer: Kiyoshi Ota/Bloomberg

The Bank of Japan’s escalating presence in almost every corner of the nation’s financial markets threatens to further distort activity and complicate any future pulling back from stimulus.

The central bank’s growing pile of assets has now reached the equivalent of 137% of gross domestic product, according to a Bloomberg calculation based on official data. In dollar terms, the tally of securities, loans and other assets is just 8% smaller than the Federal Reserve’s even though the U.S. economy is four times bigger than Japan’s.

While economists laud the relative success of the BOJ’s measures to support businesses and the economy through the Covid-19 crisis, many of them also warn that accelerated growth in the bank’s asset mountain will be hard to scale back in the future without unnerving investors and shocking

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Meadows and Mnuchin urge repurposing PPP money amid stimulus wrangling

Top Trump administration officials are calling on lawmakers to pass legislation to redirect unused funding from a small-business lifeline, the latest salvo in a week of twists and turns in talks between the White House and congressional leaders on a new round of coronavirus stimulus.

a man wearing a suit and tie: "He may. He may," Kudlow said of Mnuchin. "Secretary Mnuchin is up to $1.8 trillion. So, the bid and the offer is narrowing somewhat between the two sides."

© Chip Somodevilla/Getty Images
“He may. He may,” Kudlow said of Mnuchin. “Secretary Mnuchin is up to $1.8 trillion. So, the bid and the offer is narrowing somewhat between the two sides.”

“Now is the time for us to come together and immediately vote on a bill to allow us to spend the unused Paycheck Protection Program funds while we continue to work toward a comprehensive package,” White House chief of staff Mark Meadows and Treasury Secretary Steven Mnuchin wrote in a letter on Sunday to members of the House and Senate. “The all-or-nothing approach is an unacceptable response to the American people.”


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Who is a dependent, and why that could mean more money in your next stimulus check


If you claimed dependents on your 2019 tax return, you should’ve received at least $500 in the first round of stimulus checks.

Sarah Tew/CNET

If you claim a dependent on your taxes, you might receive more money in a second stimulus check than you did in the first, if a bill is approved in Congress. There are now three different proposals for a new stimulus bill that all expand the definition of a dependent in a way that’s sure to bring your family a larger sum, so long as you’re eligible for a new check (when and if it happens).

According to the latest proposal under consideration, a $1.8 trillion White House effort, the total for child dependents could rise from $500 to as high as $1,000 in a second round. Two other proposals wanted to bring $500 to dependents of any age, including an older relative

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